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Künstliche Intelligenz als Ersatz für Märkte und Wettbewerb?: 100 Jahre nach Mises’ Unmöglichkeitstheorem der sozialistischen Wirtschaftsrechnung

Author

Listed:
  • Bardt Hubertus

    (Geschäftsführer und Leiter Wissenschaft, Institut der deutschen Wirtschaft, Konrad-Adenauer-Ufer 21, 50668Köln, Germany)

  • Kooths Stefan

    (Direktor Forschungszentrum Konjunktur und Wachstum, Kiel Institut für Weltwirtschaft, Kiellinie 66, 24105 Kiel, Germany)

Abstract

The key advantage of market-based socio-economic coordination can be seen in its information retrieving and processing capacities that central planners so desperately lack. With the increasing availability of big data and ever more powerful data processing technologies, especially in the field of artificial intelligence, new capabilities are attributed to central planning including the Chinese model of so-called state capitalism. However, even 100 years after the debate on the impossibility of economic calculation under socialism, decentralized coordination via markets is not becoming obsolete. This is due to the fact that markets mechanisms do not just optimize coordination in a world of existing options, but also foster unpredictable dynamics by allowing for creative search processes on so far unchartered territory. Conceptually, the innovative power of a competitive order cannot be replaced conceptually by computational optimization.

Suggested Citation

  • Bardt Hubertus & Kooths Stefan, 2023. "Künstliche Intelligenz als Ersatz für Märkte und Wettbewerb?: 100 Jahre nach Mises’ Unmöglichkeitstheorem der sozialistischen Wirtschaftsrechnung," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 72(1), pages 1-18, December.
    • Handle: RePEc:bpj:ordojb:v:72-73:y:2023:i:1:p:1-18:n:21
    DOI: 10.1515/ordo-2023-2006
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    Keywords

    Künstliche Intelligenz; Sozialismusdebatte; Wirtschaftsrechnung; Wissen;
    All these keywords.

    JEL classification:

    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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